Thambi is CSE CEO

After completing the demutalisation process in August 2007, the Calcutta Stock Exchange (CSE) has announced the appointment of Molly Thambi, as the new chief executive officer. She will take charge of the exchange from the middle of December. The appointment has also been approved by the Securities Exchange Board of India (Sebi).

Udayan Bose, the outgoing chairman of the board said, "When the new board of directors took over in December last year, appointing COO was our first priority. Thambi's previous experience at the National Stock Exchange (NSE) and HSBC Securities will be helpful."

In tandem, the exchange has also appointed Abhijit Majumdar as the new financial controller and company secretary of the excahnge, to join CSE in December.

According to Bose, the new appointments, along with the current management team, would focus on enlarging the business of CSE, put in place robust systems in front office, and liaison with members.

P K Roy, the former secretary, would be now advisor to the chairman.

Under the demutalisation process, shareholders like Kesoram, Texmaco, Patton Industries, Emami, Moneygroup, Jai Balaji, Hindustan National Glass, WBIDFC, the Bombay Stock Exchange and several state government undertakings had invested Rs 103 crore for 52 per cent stake in CSE.

A new board of directors took charge at CSE in December 2007.

The exchange has also implemented screen-based trading and reporting system, C-Star, as a part of IT upgradation. The exchange had 945 members, and about 2,800 companies listed.

Thambi had served as assistant vice president—operations at HSBC Securities Services in Kolkata, as regional head (east) at Stock Holding Corporation and as regional head of NSE.